Appendix

Comparison of IFRS with Ind AS (as on April 01, 2019)

notified by the MCA
S No. IFRS/ Indian Name
IAS Accounting
Standard
IFRS issued that are mandatory as on 1st January 2019
1. IAS 1 Ind AS 1 Presentation of Financial Statements
2. IAS 2 Ind AS 2 Inventories
3. IAS 7 Ind AS 7 Statement of Cash Flows
4. IAS 8 Ind AS 8 Accounting Policies, Changes in
Accounting Estimates and Errors
5. IAS 10 Ind AS 10 Events after the Reporting Period
6. IAS 12 Ind AS 12 Income Taxes
7. IAS 16 Ind AS 16 Property, Plant and Equipment
8. IAS 19 Ind AS 19 Employee Benefits
9. IAS 20 Ind AS 20 Accounting for Government Grants and
Disclosure of Government Assistance
10. IAS 21 Ind AS 21 The Effects of Changes in Foreign
Exchange Rates
11. IAS 23 Ind AS 23 Borrowing Costs
12. IAS 24 Ind AS 24 Related Party Disclosures
13. IAS 26 * Accounting and Reporting by Retirement
Benefit Plans
14. IAS 27 Ind AS 27 Separate Financial Statements

*
Ind AS corresponding to IAS 26, Accounting and Reporting by Retirement Benefit
Plans, has not been issued as this standard is not applicable to companies.
 Comparison of IFRS with Ind AS

S No. IFRS/ Indian Name

IAS Accounting
Standard
15. IAS 28 Ind AS 28 Investments in Associates and Joint
Ventures
16. IAS 29 Ind AS 29 Financial Reporting in Hyperinflationary
Economies
17. IAS 32 Ind AS 32 Financial Instruments: Presentation
18. IAS 33 Ind AS 33 Earnings per Share
19. IAS 34 Ind AS 34 Interim Financial Reporting
20. IAS 36 Ind AS 36 Impairment of Assets
21. IAS 37 Ind AS 37 Provisions, Contingent Liabilities and
Contingent Assets
22. IAS 38 Ind AS 38 Intangible Assets
*
23. IAS 39 Financial Instruments: Recognition and
Measurement
24. IAS 40 Ind AS 40 Investment Property
25. IAS 41 Ind AS 41 Agriculture
26. IFRS 1 Ind AS 101 First-time Adoption of Indian Accounting
Standards
27. IFRS 2 Ind AS 102 Share-based Payment
28. IFRS 3 Ind AS 103 Business Combinations
29. IFRS 4 Ind AS 104 Insurance Contracts
30. IFRS 5 Ind AS 105 Non-current Assets Held for Sale and
Discontinued Operations
31. IFRS 6 Ind AS 106 Exploration for and Evaluation of
Mineral Resources

*
IAS 39 contains only part relating to hedge accounting which is still valid globally as
continuation of this part is permitted globally. But in India, only IFRS 9 hedge
accounting is permitted, hence the part of IAS 39 is not relevant and no equivalent
standard exists.
 Comparison of IFRS with Ind AS

S No. IFRS/ Indian Name

IAS Accounting
Standard
32. IFRS 7 Ind AS 107 Financial Instruments: Disclosures
33. IFRS 8 Ind AS 108 Operating Segments
34. IFRS 9 Ind AS 109 Financial Instruments
35. IFRS 10 Ind AS 110 Consolidated Financial Statements
36. IFRS 11 Ind AS 111 Joint Arrangements
37. IFRS 12 Ind AS 112 Disclosure of Interest in Other Entities
38. IFRS 13 Ind AS 113 Fair Value Measurement
39. IFRS 14 Ind AS 114 Regulatory Deferral Account
40. IFRS 15 Ind AS 115 Revenue from Contracts with Customers
41. IFRS 16 Ind AS 116 Leases
IFRS issued but not mandatory as on 1st January 2019
42. IFRS 17 Ind AS 117 Insurance Contracts (It will replace IFRS 4)
is under
formulation

IFRICs/SICs included in the corresponding Appendices

to Ind AS (as on April 01, 2019)
As per the scheme of formulation of Indian Accounting Standards, the
interpretations issued by the IASB, IFRIC and SIC be added as an appendix
with the relevant Ind AS.

S IFRIC/ Corresponding IFRIC/SIC

No. SIC No. Appendix included in
Ind AS
1. IFRIC 1 Appendix A to Ind AS 16 Changes in Existing
Decommissioning,
Restoration and Similar
Liabilities
 Comparison of IFRS with Ind AS

S IFRIC/ Corresponding IFRIC/SIC

No. SIC No. Appendix included in
Ind AS
2. IFRIC 2 # Members’ Shares in
Co-operative Entities and
Similar Instruments
3. IFRIC 5 Appendix A to Ind AS 37 Rights to Interests arising
from Decommissioning,
Restoration and
Environmental
Rehabilitation Funds
4. IFRIC 6 Appendix B to Ind AS 37 Liabilities arising from
Participating in a Specific
Market—Waste Electrical
and Electronic Equipment
5. IFRIC 7 Appendix A to Ind AS 29 Applying the Restatement
Approach under Ind AS 29
Financial Reporting in
Hyperinflationary
Economies
6. IFRIC 9 Not included as Ind AS Reassessment of
39 have been replaced Embedded Derivatives
with Ind AS 109
7. IFRIC 10 Appendix A to Ind AS 34 Interim Financial Reporting
and Impairment
8. IFRIC 12 Appendix D to Ind AS 115 Service Concession
Arrangements
9. IFRIC 14 Appendix B to Ind AS 19 Ind AS 19— The Limit on a
Defined Benefit Asset,
Minimum Funding
Requirements and their
Interaction

#
Appendix corresponding to IFRIC 2 is not issued as it is not relevant for the
companies.
 Comparison of IFRS with Ind AS

S IFRIC/ Corresponding IFRIC/SIC

No. SIC No. Appendix included in
Ind AS
10. IFRIC 16 Appendix C to Ind AS 109 Hedges of a Net Investment
in a Foreign Operation
11. IFRIC 17 Appendix A to Ind AS 10 Distributions of Non-cash
Assets to Owners
12. IFRIC 19 Appendix D to Ind AS 109 Extinguishing Financial
Liabilities with Equity
Instruments
13. IFRIC 20 Appendix B to Ind AS 16 Stripping Cost in the
Production Phase of a
Surface Mine
14. IFRIC 21 Appendix C to Ind AS 37 Levies
15. IFRIC 22 Appendix B to Ind AS 21 Foreign Currency
Transactions and Advance
Consideration
16. IFRIC 23 Appendix C to Ind AS 12 Uncertainty over Income
Tax Treatments
17. SIC-7 ## Introduction of Euro
18. SIC-10 Appendix A to Ind AS 20 Government Assistance—
No Specific Relation to
Operating Activities
19. SIC-25 Appendix A to Ind AS 12 Income Taxes—Changes in
the Tax Status of an Entity
or its Shareholders
20. SIC-29 Appendix E to Ind AS 115 Service Concession
Arrangements: Disclosures
21. SIC-32 Appendix A to Ind AS 38 Intangible Assets—Web
Site Costs

##Appendix corresponding to SIC 7 is not issued as it is not relevant in the Indian

context.